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A chart of accounts ( COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...
A balance sheet is often described as a "snapshot of a company's financial condition". [ 1] It is the summary of each and every financial statement of an organization . Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. [ 2]
Accounts clerk. v. t. e. Single-entry bookkeeping, also known as, single-entry accounting, is a method of bookkeeping that relies on a one-sided accounting entry to maintain financial information. The primary bookkeeping record in single-entry bookkeeping is the cash book, which is similar to a checking account register (in UK: cheque account ...
The national income and product accounts ( NIPA) are part of the national accounts of the United States. They are produced by the Bureau of Economic Analysis of the Department of Commerce. They are one of the main sources of data on general economic activity in the United States. They use double-entry accounting to report the monetary value and ...
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. [ 1] It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person, organization or ...
The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. between economic agents. The flows of money and goods exchanged in a closed circuit correspond in value, but run in the opposite direction. The circular flow analysis is the basis of ...
Household final consumption expenditure ( POES) is a transaction of the national account 's use of income account representing consumer spending. It consists of the expenditure incurred by resident households on individual consumption goods and services, including those sold at prices that are not economically significant.
t. e. In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [ 1] A general ledger may be maintained on paper, on a computer, or in the cloud. [ 2]